Illinois General Assembly - Bill Status for SB1860
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 Bill Status of SB1860  94th General Assembly


Short Description:  INC TX-CREDIT-HISTORC RESOURCE

Senate Sponsors
Sen. Kirk W. Dillard - Don Harmon

Last Action
DateChamber Action
  1/9/2007SenateSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 3504/14.1 new
35 ILCS 5/216 new


Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates the rehabilitation of historic resource credit. Allows a credit against income taxes for 25% of the qualified expenditures for the rehabilitation of a historic resource. Provides that "historic resource" means certain publicly or privately owned historic buildings, structures, sites, objects, features, or open spaces located within a designated historic district or individually designated as historic. Provides that "qualified expenditures" means capital expenditures that qualify for a rehabilitation credit under Internal Revenue Code. Amends the Historic Preservation Agency Act to provide that the Historic Preservation Agency shall exercise all rights, powers, and duties set forth in the credit provisions. Effective immediately.

Actions 
DateChamber Action
  2/25/2005SenateFiled with Secretary by Sen. Kirk W. Dillard
  2/25/2005SenateFirst Reading
  2/25/2005SenateReferred to Rules
  3/2/2005SenateAssigned to Revenue
  3/9/2005SenateAdded as Chief Co-Sponsor Sen. Don Harmon
  3/10/2005SenateTo Subcommittee
  3/18/2005SenateRule 3-9(a) / Re-referred to Rules
  1/9/2007SenateSession Sine Die

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